Additional Sessions Judge P M Patel awarded the five-year jail term to 28-year-old Shah along with a fine of Rs 25,000.
The court also asked Shah to pay a compensation of Rs five lakh each to the families of the two youths killed in the accident.
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The fathers of Shivam and Rahul, who were present in the court, broke down after the pronouncement of sentence.
Unhappy with the quantum of punishment, they have decided to challenge the verdict in the High Court for a harsher punishment.
"We are not satisfied with the sentence, we will approach High Court in the coming days. He should have been given maximum punishment," Rahul's father Ghanshyam Patel told reporters outside the court.
"We will fight the case upto the Supreme Court to ensure that the convict gets maximum punishment and the case is seen as an example for those who kill people on roads. My son will not come back, but I am fighting this case to ensure that such incidents do not take place," he said.
Regarding compensation, he said they were never fighting the case for money.
The court convicted Shah under IPC sections 304(2) (culpable homicide not amounting to murder), 279 (rash driving) and 427 (mischief causing damage) and various sections of Motor Vehicle Act.
Under IPC section 304 (2), the maximum sentence could go up to 10 years of imprisonment.
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